Fintel reports that on May 3, 2024, William Blair upgraded their outlook for Amgen (NasdaqGS:AMGN) from Market Perform to Outperform.
Analyst Price Forecast Suggests 12.19% Upside
As of May 2, 2024, the average one-year price target for Amgen is 312.32. The forecasts range from a low of 171.70 to a high of $399.00. The average price target represents an increase of 12.19% from its latest reported closing price of 278.39.
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The projected annual revenue for Amgen is 28,844MM, a decrease of 2.33%. The projected annual non-GAAP EPS is 20.60.
What is the Fund Sentiment?
There are 4,034 funds or institutions reporting positions in Amgen. This is an increase of 187 owner(s) or 4.86% in the last quarter. Average portfolio weight of all funds dedicated to AMGN is 0.55%, an increase of 5.95%. Total shares owned by institutions increased in the last three months by 0.13% to 450,415K shares. 
The put/call ratio of AMGN is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 16,803K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 16,657K shares , representing an increase of 0.87%. The firm decreased its portfolio allocation in AMGN by 3.39% over the last quarter.
Primecap Management holds 14,591K shares representing 2.72% ownership of the company. In its prior filing, the firm reported owning 14,732K shares , representing a decrease of 0.97%. The firm decreased its portfolio allocation in AMGN by 0.45% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 13,073K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 12,855K shares , representing an increase of 1.67%. The firm decreased its portfolio allocation in AMGN by 3.73% over the last quarter.
Geode Capital Management holds 12,340K shares representing 2.30% ownership of the company. In its prior filing, the firm reported owning 12,137K shares , representing an increase of 1.64%. The firm decreased its portfolio allocation in AMGN by 4.35% over the last quarter.
Charles Schwab Investment Management holds 10,393K shares representing 1.94% ownership of the company. In its prior filing, the firm reported owning 10,894K shares , representing a decrease of 4.82%. The firm decreased its portfolio allocation in AMGN by 9.35% over the last quarter.
AMGEN Background Information
(This description is provided by the company.)
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology. Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people’s lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world’s leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
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This story originally appeared on Fintel.
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